Brazil's Embraer sells 100 aircraft to NetJets

Brazil's Embraer sells 100 aircraft to NetJets
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SAO PAULO (Oct 11): Embraer has signed a deal to sell an additional 100 aircraft to NetJets, the Brazilian plane-maker said on Monday, delivering the Phenom 300E jets from the second quarter of 2023.

Embraer said the deal with NetJets, a US company that offers shared ownership of private business jets, is valued at more than US$1.2 billion.

NetJets, owned by Warren Buffett's Berkshire Hathaway, plans to use the new aircraft in its US and European operations, Embraer said.

The deal also includes a "comprehensive" service contract, Embraer added.

A securities filing said that Embraer's agreement with NetJets is the second phase of a 2010 deal in which the US company acquired 50 Phenom planes with an option to purchase an additional 75 aircraft.